Saving Now Gives Us Mad Options Later.
Saving and managing our money now goes a long way later! This isn't the first time you've ever ever heard this, especially by me, but it's been rolling around my mind since seeing this quote by a fellow twitterer @JFuntanilla.There's something about it that really strikes home:
"I live a few years of my life like most people won't, so I can spend the rest of my life like most people can't."Yes! I know some prefer living like a king now since you never know what'll happen tomorrow (which I can totally understand), but obviously I'm more about preparing for the future ;) I'd love to get my hands on that Benz or splurge on some week long benders to Mexico, but it's just not worth the trade off at this point in my life.
There's something about saving and living a more simple life that comforts me. I like not having to stress over money or wonder what would happen if my paycheck came a few days late. I like knowing we can bring a baby into this world and not have to work 2 extra jobs to afford it. $hit, I like the fact of just being ABLE to afford half the stuff out there! It doesn't mean I'll actually go out and buy all of 'em, but it's a helluva treat knowing I *could* if I ever wanted to.
By saving and living more frugally now, we open up a sea of options for the rest of our lives. We're still free to do whatever we please, but by picking and choosing where our money goes now we gain stability and freedom to take advantage of life on better terms. It's similar to other aspects of our lives: career, education, you name it. Rarely do you hear advice telling you to screw college, or slack off at work and just worry about it all later. You might be able to fulfill yourself temporarily that route (which also implies you'd be smart enough to take advantage of this time created and actually DO the things that truly make you happy), but in the long run it's usually not best.
Think about what truly makes you happy now, and start on it. And if that means blowing through wads of cash like you're the next MC Hammer, so be it! Just be sure you know what you're doing - one day more people will count on you than yourself ;)
Labels: frugality, life, money management, personal finance, saving
posted by J. Money at
7:48 AM
14 Comments:
You and I see eye-to-eye on personal finance. I'm being called frugal now, but I like having that option to splurge whenever I can.
In the days when the job market was better you could snag a position where in the name of 'entertaining clients' you could go on the bender to Mexico on the company dime, get the fast car etc. I think those days are behind us for the foreseeable future, which makes your post even more relevant in the current environment.
-Luke Sidewalaker
yep, paying off debt and saving now defintely gives you options for tomorrow. i recently "retired" from my 1st career to persue a 2nd, more personal and meaningful one. my choices 5 years ago put me in a situation where i felt comfortable making the transition. will i miss the regular paycheck, hmm, i'm not sure yet. the 2nd career has potential to pay more (in money and in personal fulfillment) than the first, exponentially. we'll see what comes out of it. even if i have to someday go back to a traditional corporate gig, at least i had the option to leave and even better, at least i exercised it;-).
The question to ask yourself is when or whether at all there will be day when you really start to fulfill these many options that are available for you to buy. Can't it be that frugality will be so deep in your mind that you will be unable to start fulfilling all these options just to continue being frugal?
@Investing Newbie - it really is all about the options. makes life a bit more comfortable.
@Luke Sidewalker - haha, well I never knew those times anyways ;)
@Ms. MoneyChat - damn straight - you're going after what makes you happy, gotta admire that!
@Renchix - it's definitely a possibility :) I'd like to think that as time goes on though, say 10-20 years from now, I'll be wise enough to understand that it's time to live it up a little more. And if I don't, then it's hopefully because I'm 100% content w/ my life. Either way, saving lots of money now makes me extremely happy & comfortable - no point to spend just to spend.
That is utterly RIDICULOUS! Saving is DUMB!
Just kidding. Awesome. I, of course, wish I practiced this years ago...
the Dad
One of my latest posts, highlights those same options. Nothing takes the place of super sexy savings coupled with debt freedom. Mix that with a bundle of joy and you have COMPLETE AWESOMENESS!
Today I am the expert on the absolute beauty and joy that bringing a little one into this world can bring. I wish you well in your future plans to starting "Fatherhood is SEXY!" Hahaha!
As always my man---great post!
I hope when I have a kid I'm reading blogs on that same day too :) Is there some secret to tell the wife?
"It doesn't mean I'll actually go out and buy all of 'em, but it's a helluva treat knowing I *could* if I ever wanted to."
J, I think you're the first other person who I've ever heard say that!! I feel that way ALL of the time! :P I love having enough money in the bank to look at something and say, "Oh, I could buy that. If I wanted." Most of the time, that really helps me see what are my true wants and what are impulsive wants. (Well, it works for me since I'm not an impulse buyer.)
I say be careful though, and not to save too much. It's about balance! Spend you're money evenly in your life, b/c he who dies with the most amount of money at the end, well is simply dead!
You don't want to live your 20's and 30's like you've never lived before.
i couldn't agree with you more. delayed gratification rocks but very few people see this. and this is why i live a frugal life that my "friends" consider misery. i will laugh last in a Lamborghini :) but for now i will settle for the one roomed cubicle i live in
@Foxie | CarsxGirl - well, that's because we're awesome ;) but it's so true, right? sometime I walk into stores and go "I can afford that, I can afford that, and oh yeah - I could def. afford that $x,xxx thing." I get thrills that way, not by buying everything I see. Now, if it were a crazy good DEAL (like last night's trip to Express - 4 shirts for $33 total down from $125+) then hell yeah! But normally I just save my $ for a rainy day.
@Financial Samurai - for sure. I spend & splurge every now and then (like the above example), but only when on sale and i really REALLY want/need them. I'm not trying to break any non-shopping records or anything, but if it feels good saving why ruin the mood and spend just to "live life"? you can do a lot for free that's equally pleasing.
@kenyantykoon - As long as you let me drive it every now and then, I'll be happy ;) keep doing your thing!
So how much is enough for you J? A million? Two? Do you have any toys as goals? I'm having trouble balancing between saving and spending, sigh.
Ooooh good question! I'm currently focused on a $1 million net worth, but it's all arbitrary really. I have "enough" right now, but if I want to stop working anytime soon I'll obviously need more.
As for toys, I don't really have one in mind to be honest. I'd like to get a Benz at some point, but my Caddy works perfectly fine so I'm set until the day she dies :( Other than that, I can't say I have any other big ticket items on the horizon. Maybe travel? I've been doing better with just taking off whenever a friend or family invites me :)
Actually, that's another way to look at it all - "to travel whenever I please". Right now there's no place on the list, but if my boys called and said they're going to Vegas next week, you better believe I'll be on that plane! It's all about options.... There's nothing wrong with wanting a lot of toys though - if it keeps you motivated and on track, great! Go with what you're comfortable with.
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